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Cloud Migration Services Market is Projected to Grow at a Healthy CAGR By 2027

Press Release   •   Feb 12, 2017 04:55 EST

A number of enterprises from different industries have started understanding and adopting advanced technologies pertaining to IT. One of the most popular trend amongst these are enterprises migrating to cloud. Cloud computing helps enterprises serve their customers via internet, at the same time offering a flexible and cost friendly alternative. However, before migrating to cloud, enterprises need to thoroughly analyse and understand the different aspects of cloud migration, such as financial, security, and technical aspects.

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Cloud migration is becoming popular amongst SMEs as well as large enterprises owing to the fact that it offers a cost-effective alternative and business agility. Moreover, cloud computing enables enterprises to offer improved IT services in a shorter duration of time, hence enhancing business efficiency. Furthermore, many could service providers are introducing new payment schemes, such as pay-as-you-go model, in order to promote cloud services amongst SMEs. These factors are expected to significantly drive the growth of cloud migration services market. However, many enterprises are reluctant to migrate to cloud as they associate cloud migration services with increase in expenditure, such as those pertaining to licensing and the dismissal of existing data centers. These are a few factors that are expected to act as restrain for cloud migration services market.

The market for cloud migration services can be segmented on the basis of types of cloud servers, type of cloud computing models, end users, and region. Types of cloud servers include public, private, and hybrid cloud servers. Cloud migration services can be further segmented on the basis of cloud computing models as SaaS, PaaS and IaaS. On the basis of end users, the market is segmented into SMEs and large enterprises. On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa.

North America is expected to dominate cloud migration services market, owing to their developed IT and telecommunications infrastructure, followed by Western Europe. However, cloud migrations services market in Asia Pacific excluding Japan and Japan are expected to witness rapid growth owing to the increasing number of SMEs in these regions and increasing penetration of advanced technologies.

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Some of the key players in cloud migration services market include Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc. and Cognizant Technology Solutions Corp. among others. Majority of the players follow business strategies such as merger and acquisition, price differentiation, product introduction and partnerships to gain a competitive edge.

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